The price of one share of MF Compass Euroselect reached 0.9386 EUR, which is an increase of 2.21% compared to the end of May and 12.61% since the beginning of the year. Leading global stock indexes marked one of the strongest months with European indexes being no exception. Expectations of additional incentive measures from the leading central banks were the main reason for the optimism of the financial markets during the month.

Among the positions with the highest growth during the month were: the Dutch technology company TKH Group (+ 29.18% in EUR), the French company Worldline SA (+ 18.74% in EUR) operating in the field of digital payments, the German software company Nemetscheck AG (+ 15.70% in EUR), the German manufacturer of machines for the automotive and weapons industry Rheinmetall AG (+ 12.96% in EUR) and the French fashion group Kering (+ 11.62% in EUR) owner of the Gucci brand.

Despite weak economic data, investors are encouraged by the potential incentive measures of central banks. In response to projections of declining corporate profits, supportive monetary policy should counteract further economic slowdowns. However, there are unresolved geopolitical issues related to Brexit, the new President of the European Commission and the upcoming USA-China talks. In the context of the portfolio of MF Compass Euroselect, the fund's management follows the fund's strategy for investing in quality European businesses. At the same time, due to the increased uncertainty, tactical decisions have been made to limit short-term fluctuations in the value of the portfolio.

If you would like to learn more about the presentation of MF Compass Euroselect in June, as well as get more information about the development of global financial markets and management expectations, please click HERE to view the full newsletter in a PDF format.

With respect,

Compass Invest JSC team